New Treasury chief says 'strong dollar' in US interests

AFP ^ | 08/01/2006

[1rudeboy]

Check out #38. Hilarious.

[Toddsterpatriot]

Did you notice that the article mentions "White House economists," but never identifies them?

Typical.

In any case, looks like the reporter wasn't too concerned about challenging EPI's data.

I love the cherry picked data:

These workers did well during the last period of economic growth, 1995 to 2000

IIRC, the recession ended in 1991, why start in 1995? Why ignore the 4 years after the last recession and compare different data to 4 years after this recession?

[1rudeboy]

Well, maybe people with Fine Arts and Theater degrees did have it tough during that period.

[Toddsterpatriot]

Well, maybe people with Fine Arts and Theater degrees did have it tough during that period.

Not to mention hedgetrimmers and 7-11 Slurpee jockeys.

[RightWhale]

"The longer we wait to fix this problem, the more limited will be the options," he cautioned.

Series?

[RegulatorCountry]

"Well, maybe people with Fine Arts and Theater degrees did have it tough during that period."

Well, maybe I just had overindulgent parents. I had nearly enough credit hours to graduate in: German, Business Information Systems, Statistical Analysis, and Graphic Design. I bolted with a BFA in Graphics because I satisfied the requirements there, first. Five years was enough, and besides, all my party buds had graduated or dropped out. I've done rather well, despite all the rather limiting stereotypes directed at anyone with a Fine Arts degree. How I came out of all that as a political conservative is anybody's guess though, lol.

[1rudeboy]

I have an English degree, and looking back, I don't see how I could've gotten anything else. I really challenged myself in school, if you get my drift.

[RegulatorCountry]

My freshman and sophomore years were and are a blur, but I managed decent grades, somehow.

[capitalist229]

is that our new economic policy, we have to guarantee hyperinflation of real estate, so americans can have more equity to borrow against, to fund their everyday purchases with?

Inflation is great for commodity investors.

And there is no Paul Volcker in sight to stop the party.

BUMP

[1rudeboy]

My graduation party lasted a full year. 1993 simply does not exist in my memory.

[expat_panama]

... these macro statistics - for them to have any meaning at all with regards to what the broad spectrum of the american middle class is seeing/feeling...

fwiw, incomes for the American middle class, even after adjusting for inflation, are soaring.  

Now, if what you're seeing here doesn't feel right, you're free to check it out yourself.   First, divide America's households into fifths by income (census stats), and multiply the percentages times the total personal disposable income (BEA stats here, and the latest news here).

Then again, not everyone enjoys digging through these  "macro statistics" as much as they like talking about them...

[1rudeboy]

I think you mean "emoting." :)

[GOPJ]

I was looking at the Templeton hard currency fund just the other day. This is better.

[photodawg]

is that our new economic policy, we have to guarantee hyperinflation of real estate, so americans can have more equity to borrow against, to fund their everyday purchases with? its nuts.
////////////////////////////////////////////////////////

A real problem here is the global nature of our economy. We just don't produce and manufacture things any more. We are so advanced the rest of the world has to catch up. Would it make sense for us to manufacture clothing, sneakers, pots and pans, baseballs, cars etc. Our wage scale is 50% higher than the developing nations like China and India. It makes economic sense to buy cheap goods where you can find them. Way more money goes out than comes back in, which cheapens and devalues the currency. We have some tough times ahead of us, but if we use the hardships to make us stronger then it will be worth it. If the dollar tanks then we will be forced to be more self reliant and utilize our own resources which are vast. When a Toyota is too expensive for us to purchase, but a better made Ford is available for half the price, Ford will be hiring again. Also Ford products will be a bargain for the rest of the world.

Much of this dilemma, is really the growing pains of capitalism, and will work itself out after our next "great depression". :-}

[Toddsterpatriot]

We just don't produce and manufacture things any more.

Really? We don't manufacture anything?